January 23 is Deadline to Apply for SBA Economic Injury Disaster Loans

(BUSINESS WIRE)--The U.S. Small Business Administration is reminding small businesses affected by severe storms, flooding and tornadoes that occurred March 26 through April 13, 2009 that January 23 is the filing deadline for Economic Injury Disaster Loans.

Small businesses and most private non-profit organizations in the following counties are eligible to apply for SBA Economic Injury Disaster Loans: Appling, Atkinson, Bacon, Baker, Ben Hill, Berrien, Brantley, Brooks, Calhoun, Camden, Candler, Charlton, Clay, Clinch, Coffee, Colquitt, Cook, Crisp, Decatur, Dodge, Dougherty, Early, Echols, Emanuel, Evans, Glynn, Grady, Irwin, Jeff Davis, Lanier, Laurens, Lee, Liberty, Long, Lowndes, Miller, Mitchell, Montgomery, Pierce, Tattnall, Tift, Seminole, Telfair, Terrell, Thomas, Toombs, Treutlen, Turner, Ware, Wayne, Wheeler, Wilcox and Worth in Georgia; contiguous counties of Henry and Houston in Alabama; and contiguous counties of Baker, Columbia, Gadsden, Hamilton, Jefferson, Madison and Nassau in Florida.

Loans are available up to $2 million for eligible entities that suffered substantial economic injury from the disaster. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. These loans are not intended to replace lost sales or profits.

The interest rate on these loans is 4 percent, with a maximum term of 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of the borrower. Eligibility for the program is based on the size and type of business, and its financial resources.

To obtain a loan application, interested business owners should contact the SBA’s Customer Service Center by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 6 p.m. EST, or by sending an e-mail to disastercustomerservice@sba.gov. Business disaster loan applications can also be downloaded from www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Victims may visit the SBA’s secure Web site at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

The deadline for economic injury applications is January 23, 2010.
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SBA Disaster Loans Over $6 Million in Georgia

(BUSINESS WIRE)--The U.S. Small Business Administration (SBA) announced today that it has approved over $6 million in federal low-interest disaster loans to Georgia homeowners, renters and businesses who sustained damages from the severe storms, straight-line winds and flooding that occurred on August 4, 2009.

“Currently, 154 SBA disaster loans for homes and businesses have been approved in the amount of $6,071,000 for affected victims,” said Frank Skaggs, Director of SBA’s Field Operations Center East. “We are pleased to be able to approve these loans so the residents and businesses of Georgia can start to rebuild and resume their normal lives.”

Victims are urged to register with FEMA by calling 1-800-621-3362 (FEMA) or 1-800-462-7585 (TTY) for the hearing and speech impaired. If you were issued an SBA loan application, complete and return the application, even if you do not want a loan. If the SBA is not able to approve a home loan, you may be referred to FEMA for possible grant assistance.

“Assisting individuals and business owners to recover from a disaster is our primary mission,” Skaggs added. “We are encouraging anyone affected by this disaster to visit one of the centers located throughout the disaster area to obtain individual assistance with completing their loan applications from our representatives. I encourage anyone who has not completed their disaster loan application to do so and return the application as soon as possible.”

Homeowners, renters, businesses and non-profit organizations of all sizes in Bartow, Carroll, Catoosa, Chattooga, Cherokee, Cobb, Coweta, DeKalb, Douglas, Fulton, Gwinnett, Heard, Newton, Paulding, Rockdale, Stephens and Walker in the state of Georgia are eligible to apply for both SBA’s Physical and Economic Injury Disaster Loans (EIDLs).

If a borrower does not know how much of their loss will be covered by insurance or other sources, the SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their SBA loan.

Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that prevent or minimize the same type of disaster damage in the future.

SBA also offers EIDLs to help meet working capital needs of small businesses, and most private non-profit organizations of all sizes, for economic injury relating to the disaster. Small businesses and most private non-profit organizations in the following counties are eligible to apply for Economic Injury Disaster Loans: Banks, Barrow, Butts, Clayton, Dade, Dawson, Fayette, Floyd, Forsyth, Franklin, Gordon, Habersham, Hall, Haralson, Henry, Jackson, Jasper, Meriwether, Morgan, Pickens, Polk, Spalding, Troup, Walton and Whitfield in Georgia; Cherokee, Cleburne, DeKalb and Randolph in Alabama; Oconee in South Carolina; and Hamilton County in Tennessee. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 2.750 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

Anyone unable to visit one of the Centers may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (or 1-800-877-8339 for the hearing impaired) Monday through Saturday, 8 a.m. to 9 p.m. EDT, or send an email to disastercustomerservice@sba.gov. Business loan applications may be downloaded from www.sba.gov/services/disasterassistance. Applications may be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

Georgia disaster victims may visit SBA’s secure Web site at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

The filing deadline to return applications for physical property damage is November 23, 2009. The deadline to return economic injury applications is June 24, 2010.

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President Obama Signs Georgia Disaster Declaration for 5 Counties

The President yesterday declared a major disaster exists in the State of Georgia and ordered Federal aid to supplement State and local recovery efforts in the area struck by severe storms and flooding beginning on September 18, 2009, and continuing.

The President's action makes Federal funding available to affected individuals in Carroll, Cherokee, Cobb, Douglas, and Paulding Counties.

Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster.

Federal funding is also available on a cost-sharing basis for hazard mitigation measures statewide.

W. Craig Fugate, Administrator, Federal Emergency Management Agency (FEMA), Department of Homeland Security, named Gracia B. Szczech as the Federal Coordinating Officer for Federal recovery operations in the affected area.

FEMA said that damage surveys are continuing in other areas, and more counties and additional forms of assistance may be designated after the assessments are fully completed.

FEMA said that residents and business owners who sustained losses in the designated counties can begin applying for assistance tomorrow by registering online at http://www.DisasterAssistance.gov or by calling 1-800-621-FEMA(3362) or 1-800-462-7585 (TTY) for the hearing and speech impaired. The toll-free telephone numbers will operate from 7 a.m. to 10 p.m. (local time)

For further information: FEMA (202) 646-4600.

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Pelosi: 'The Thoughts and Prayers of This Congress Are With the People of Georgia Today'

/PRNewswire/ -- Speaker Nancy Pelosi spoke on the House floor this afternoon in support of a resolution expressing condolences to the families of the individuals killed during storms and floods in the state of Georgia this past week. The resolution was approved by the House by a vote of 421 to 0. Below are the Speaker's remarks:

"I thank the gentleman for yielding and for giving us this opportunity to come to the floor to express on the floor of the House our condolences to the people of Georgia in this very, very sad time.

"Thank you, Mr. Chairman and Members of the Georgia delegation, for calling attention to the serious flooding in Georgia and other parts of the American Southeast and for this resolution to offer our condolences on behalf of all Members of Congress.

"Of course, we all offer our condolences to those who lost their lives -- we're very sad to hear about those who have lost their homes and livelihoods. Those lost -- Mr. David Scott referenced those nine people dead, dozens stranded, and more than 30,000 without electricity.

"Those lost include a teenage boy trying to rescue another in danger, a mother of two young children, and a very young child, 2 years old, who was swept away from his father's arms. When that word came over the TV, my colleagues, all of America wept. It is so sad and our hearts ache for those who have lost so much.

"But in the emerging sun, what do we see? We see neighbors coming to the aid of neighbors, and the tireless work of our first responders.

"Members of Congress are being briefed on the ongoing effort by our Members of the Georgia delegation. Thank you, Mr. Lewis, for being the author of this resolution. We are all trying to reach out to you to see what we can do to help individually in conversation and as a Congress. I know that President Obama will act upon the request that he has just received -- well he has received the request from Governor Perdue, now he has received the formal documentation from FEMA and I'm certain that will be addressed immediately.

"The thoughts and prayers of this entire Congress and the people we represent -- the American people -- are with the people of Georgia today, and in the days ahead as we work with them to ensure they have all that they need.

"And I hope that it is some level of comfort to them that their representatives on both sides of the aisle from Georgia have made us fully aware of the direct impact that the rains have had on Georgia and we stand ready to help with whatever we can do officially. But always, what we can do in our prayers."

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SBA Approves More Than $1 Million in Disaster Loans; Physical Deadline Is June 22

(BUSINESS WIRE)--More than $1 million in U.S. Small Business Administration Disaster Assistance Loans have been approved for residents and business owners in Georgia who were affected by the severe storms, flooding and tornadoes that occurred from March 26 through April 13, 2009.

“Currently, 22 disaster home loans and 2 businesses have been approved in the amount of $1,105,200 for affected victims,” said Frank Skaggs, Director of Field Operations Center East. “We are pleased to get these loans approved so the residents and businesses of Georgia can start rebuilding and resuming their normal lives.” With the June 22 deadline approaching, anyone with disaster related damages should apply for an SBA disaster assistance loan by completing and returning the SBA loan application.

The disaster declaration covers Ben Hill, Berrien, Brantley, Brooks, Camden, Coffee, Colquitt, Decatur, Dougherty, Echols, Lanier, Lowndes, Miller, Mitchell, Montgomery, Pierce, Tattnall, Tift, Ware, Wheeler and Worth counties in Georgia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private, non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Appling, Atkinson, Bacon, Baker, Calhoun, Candler, Charlton, Clinch, Cook, Crisp, Dodge, Early, Emanuel, Evans, Glynn, Grady, Irwin, Jeff Davis, Laurens, Lee, Liberty, Long, Seminole, Telfair, Terrell, Thomas, Toombs, Treutlen, Turner, Wayne and Wilcox in Georgia; and Baker, Columbia, Gadsden, Hamilton, Jefferson, Madison and Nassau in Florida.

Many residents and businesses that registered with FEMA for assistance have received an SBA disaster loan application. Completing the loan application and returning it is a crucial step toward disaster recovery. Homeowners and renters unable to obtain a disaster loan from the SBA may be referred to FEMA for grant consideration. To be eligible for these grants, applicants must submit their SBA loan application even if they do not want a loan. No one is required to accept a loan. To be considered for all forms of disaster assistance, please call FEMA at 1-800-621-FEMA (3362).

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and most private non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory and other business assets.

The interest rates for these loans are as low as 2.187 percent for homeowners and renters and 4 percent for businesses with loan terms up to 30 years. Actual terms are set by the SBA, and are based on each applicant’s financial condition.

To obtain an SBA Disaster Loan application or program information, call the SBA’s Customer Service Center at 1-800-659-2955 (or 1-800-877-8339 for the hearing impaired) Monday through Friday from 8 a.m. to 9 p.m. EDT, (closed in observance of Memorial Day) or by sending an email to disastercustomerservice@sba.gov. Applications may also be downloaded from www.sba.gov/services/disasterassistance and returned to one of the Centers or mailed to: U. S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

Additionally, victims may apply for disaster loans on SBA’s secure website at https://disasterloan.sba.gov/ela/.

The deadline for physical loan applications is June 22, 2009; the deadline for economic injury applications is January 23, 2010.

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